Nearly half of young adults in the US are living at home with their parents, and all that saved rent is fueling a luxury boom

Dec 14 2022 by Business Insider

 
Tourists carrying shopping bags walk through Times Square on August 10, 2021 in New York City.

Alexi Rosenfeld/Getty Images

Nearly half of young adults are living at home in the US — a historical high not seen since the Great Depression, per the US Census Bureau. They are helping fuel a luxury boom, Morgan Stanley analysts say. Living at home is freeing up their budget and leaving them with more disposable income for spending.

A record level of young adults in the US is currently living at...

Continue Reading Nearly half of young adults in the US are living at home with their parents, and all that saved rent is fueling a luxury boom